PulteGroup, Inc. (NYSE:PHM) reported its Q3 results, with EPS of $1.82 slightly missing the Street estimate of $1.83. On the top line, total revenues grew 18% to $3.5 billion, slightly below the Street estimate of $3.52 billion, representing the third consecutive quarter of revenue miss. Gross margin increased by 200bp year-over-year to 26.5%, missing the consensus estimate by 20bp. On a positive note, the SG&A/sales margin remained unchanged year-over-year at 9.6%.

Unit orders decreased 17% year-over-year to 6,800. Per the release, the company is limiting new home sales and had a 14% year-over-year lower community count of 768.